Thursday, February 7, 2008

Michael Jackson Pays Some Back Taxes

Your Mama luvs us Roger Friedman at Fox News who reports far and wide that in addition to the bothersome $23,000,000 in loans that The White Lady secured against his former and essentially abandoned Neverland Ranch in rural Los Olivos (just north of Santa Barbara, CA), he apparently also owed more than $600,000 in back taxes that resulted in a state lien against the 2,700 acre ranch. Oh dear jeezis in heaven, this man is a financial disaster zone, ain't he?

Mister Friedman reports today in his Fox 411 column that county assessor records indicate Mister Jackson recently coughed up the $600,000+ (which included fees, and penalties) necessary to satisfy the lien, but he has yet to make good on the $23,000,000 he owes Fortress Investments. Those monstrous loans remain in default and the foreclosure deadline on the former Jackson fun house passed two weeks ago which means that Fortress can begin foreclosure proceedings at any time.

Fasten your seat belts children. Your Mama predicts that if Neverland Ranch does indeed hit the auction block it's going to be an ugly circus of uber rich developers making low ball offers.

Our Mister Friedman goes on to reiterate his previous jaw dropper that his sources have indicated that supermarket mogul and Bill Clinton buddy Ron Burkle may (or may not) have stepped into secure an extension on the Fortress loans. How very nice of him, but we don't understand why he would do that.

Whatever the case, Mister Jackson remains in deep financial doo-doo in regards to Neverland Ranch. Someone in the know please tell Your Mama that The White Lady has authorized the listing and sale of his once beloved home so this part of his real estate nightmare can come to an end.

Jacko Coughs Up $$$ (Fox 411)

18 comments:

lil" gay boy said...

No one seems to know what the main house on the "ranch" looks like, other than it's supposedly some "Tudorbeathan" pile; but I'll bet ANY amount of money that no matter how well built or nice it may turn out to be, the developer would raze it.

Who in God's name would want it?

Howdy Doody said...

I've been there. It's a big tudor thing, like 10,000sf. was well taken care of outside with elaborate flower plantings, but the inside was a mess. as you can imagine, jackson doesn't have the best taste in lamps and chairs. a lot of ornate antiquey things that he overpaid for because shop owners knew he was a sucker and would pay whatever they said it cost. he's troubled.

alex the sea turtle said...

Michael Jackson is the role model for crazy pop stars. Britney is just following in his foot steps.

However, as crazy as either of these are regardless of the horrible possible child involvements.

I love me some Michael Jackson singing and dancing (Bad, Off the Wall, Scream, History,....) and Britney's latest couple of albums also appeal to me.

alex the sea turtle said...

Oh wait what does any of that nonesense have to do with neverland. Well nothing.

Bigdaddyj said...

You see a lot of the main house in that Martin Bashir documentary about Jacko from a few years back....and yes, it's an utter mess on the inside, both decoratively (is that even a word, lol) and architecturally...from the outside, it looks like a visitors center at Disneyland or some other theme park...

Anonymous said...

oh mama, i think mr.jackson has a big old case of DENIAL. so i wouldn't be expecting that he has had any sense to list the place before he loses it.

Anonymous said...

So the main house isn't the building pictured in Mama's Dec. 3/07 post? I thought it was although I did find it rather small looking.

Link: http://bp0.blogger.com/_61djkGwfEZo/R1Rf2xOrTcI/AAAAAAAABkA/ot3qMqCYd_0/s400/MJAgain.jpg

pch said...

I still think Off The Wall and Thriller are two of the best pop records ever made -- but I give a lot of that credit to Quincy Jones.

Though Jackson lost me at Bad (Jones was still producing, but Man in the Mirror, oy), I do like the Alien Ant Farm cover of Smooth Criminal.

Barren Karen said...

that was the train station at the ranch. he's so crazy.

sandpiper said...

The ranch is here. Due north from the orange arrow, that big patch of green is the house. Roam up the main drives to see the rest. Ew.

High class lady decorator said...

Lamps and chairs and antiquey things.Yes children it all sounds so easy and elegant doesn't it?
Well let me tell you it's not.Most people including pop stars don't know a Ming from a sting,and most of them get stung!

lil' gay boy said...

Talented or not, the foundation of The White Lady's life has always been bad taste - just look at the rest of the family.

Look at that dreadful chair said...

Antiquey things,there are no photos but crimes I'm sure.

Bigdaddyj said...

In the aformentioned Bashir documentary, you get a wonderful example of both Mr. Jackson's horrible taste as well as his penchant for compulsive over-spending as you watch him plunk down hundreds of thousands of dollars for some of the tackiest shit I've ever seen at some overpriced "art" gallery in the Venetian in las vegas...

lil' gay boy said...

The only positive thing I can say about this whole mess is although I am surrounded by loving friends, there is no way in HELL, I could ever raise $600,000 if my life, or the lives of my loved ones depended on it.

Bob said...

i hope everything is demolished,it's all crap anyway

Bob said...

I would like to go to the estate sale though to see if I could get some antiquey things

lil' gay boy said...

Bob, you are a no nonsense, my kinda guy.